In terms of revenue share contribution, North America is expected to dominate the global EEG devices market during the forecast period. However, Asia-Pacific market is expected to record highest CAGR during the forecast period. The EEG devices market in Asia Pacific is anticipated to grow from US$ 152.2 Mn in 2014 to US$ 259.5 Mn by 2021.
New York, NY -- (SBWIRE) -- 02/08/2016 -- According to the latest market report published by Persistence Market Research titled "Global Market Study on Electroencephalography (EEG) Devices: Increased Demand for Advanced Imaging Techniques for Brain Monitoring Has Led to Proliferation of EEG Devices in Recent Years", the global EEG devices market was valued at US$ 879.0 Mn in 2014. The market is further expected to expand at a CAGR of 6.8% during the forecast period (2015–2021) to reach US$ 1,379.7 Mn by 2021.
Electroencephalography is a technique to record electrical activity generated by the human brain. Other problems associated with improper functioning of the brain, which can be diagnosed using EEG devices include coma, confusion, stroke, and tumors, among others. Growing demand for efficient brain monitoring devices is driving product innovation and bolstering the growth of the global EEG devices market during the forecast period (2015–2021). Among various modalities available, ambulatory or portable EEG is expected to emerge as a potentially viable area for companies operating in the EEG devices market. This is attributed to ease of accessibility and high patient comfort offered during the procedure through this modality.
The global EEG devices market was valued at US$ 879.0 Mn in 2014 and is expected to expand at a CAGR of 6.8% during the forecast period. During the latter years of the forecast period, global EEG devices market growth is expected to witness a surge, mainly attributed to increase in investments by device manufacturers to cater to rising demand for brain monitoring devices across the globe.
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The global EEG devices market is segmented on the basis of product type, modality, and end use. On the basis of product type, the market is segmented into 8-channel EEG, 21-channel EEG, 25-channel EEG, 32-channel EEG, 40-channel EEG, and multi-channel EEG. On the basis of modality, the market is segmented into portable devices and standalone (fixed) devices. By end use, the market is segmented into hospitals and diagnostic centers.
Geographically, the global EEG devices market segmentation covers North America, Latin America, Europe, Asia-Pacific, and the Middle East and Africa. The EEG devices market in Asia Pacific was valued at US$ 152.2 Mn in 2014 and is expected to increase to US$ 259.5 Mn by 2021. Increasing demand for diagnosis of critical disorders such as epilepsy, which has increased significantly in recent years, has influenced companies to focus on the development of such devices.
The prominent players in the global EEG devices market, covered in this report are Cadwell Laboratories Inc., Compumedics Limited, EB Neuro S.P.A, Elekta A.B., BrainScope Company Inc., Electrical Geodesics Inc., Natus Medical Inc., Lifelines Neurodiagnostic Systems Inc., Neurowave Systems Inc., Bio-Signal Group Corp., Jordan NeuroScience Inc., Neurosoft Ltd., and Nihon Kohden Corp.
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